Lusix, the lab-grown diamond company founded by Israeli billionaire Benny Landa, has asked an Israeli court for protection from creditors under the country’s insolvency law, according to an article in CTech.
The move is meant “to consolidate a debt arrangement and set the company on a new path through a merger with another Israeli [lab-grown diamond] company,” said the report in the Israeli publication.
Lusix is believed to be hoping for a merger with Isrough, partially owned by Ofer Mizrahi. CTech said that “most of Lusix’s shareholders are willing to transfer the requested funds” if the merger goes through.
Its report quoted legal filings that said Lusix now owes 103 million shekels (around…
